The governor gave the justification while fielding questions from journalists shortly after an inspection tour of the ongoing construction of the light rail terminus at Orile-Iganmu, saying strategies were in place to ensure that the loan is paid back at the appropriate time.
Fashola, who expressed satisfaction with the quality of work put in place by the contractor handling the project, frowned at the pace of work on site, noting that it did not move as smoothly as expected.
He expressed hope that the project would be completed in another 12 months.
Speaking on the rationale behind the debt, Governor Fashola said: “I think it was the Debt Management Office (DMO) of the federal government that published the report that we have a debt of about N160 billion. I don’t know the intent of the publication but if it was to inform the public, I think we have always kept the public informed anytime we borrow money. If there are other intentions behind that, only those who make the publication would know what the intentions are.”
